Medical Device Sales Careers

How is the Medical Devices Sales Careers Prospect in 2010?

I came from medicine or drug related sales rep background. I started working for a medical device company in April 2008, and with my nearly 2 years selling experience here is what I think about careers prospect for medical devices sales:

More Patients Prefer Self-Monitoring

Medical condition like Diabetes Mellitus (DM) and hypercholesterolemia are all too common these days. A few friends of mine already got into these conditions. The sad thing is, we are considered too young (those days) to get them!

So what is the challenge with such conditions?

Monitoring is one. Why? Because people with DM or high cholesterol constantly need to monitor their sugar and blood level to make sure they are control level. An increase in any may result in other debilitating medical condition for example atherosclerosis which could result in high blood pressure which in turn could cause stroke.

It is a vicious cycle, I know. Even these people know how important monitoring is; they somehow are very successful in ‘failing’ to comply with it. Why? There are thousand of reasons to this (I am sure you can come up with one if you were in the same position) but the common one is time limitation.

They said they cannot spend hour on the hour monitoring blood sugar levels…

And you know what? That ‘used’ to be the case. Today, fancy gadgets that take the form of hand-phones, walkman, and other Hi-Tech stuff are abundant. Just go over to Amazon.com to see for yourself. Last time, they have to line up at the nearest GPs or Pharmacists to get the blood check.

This development goes to prove one important point – people WANT to do their own monitoring and the need the right medical devices for that purpose.

Now, getting the device online is not the only way. Some devices need initial guidance from experts before patients can operate them on their own. This is when Medical Device Company comes in.

And this is when you come in; as their representative.

More Pharma Drug Companies Facing Patent Expiry

There are 2 ways to view patent expiry:

1) It is good for generics drug companies because they can start marketing their products ‘legally.’ That means there are careers opportunities as the pharmaceutical generics company’s representatives. That also means patients have the alternatives to purchase (most of the time) cheaper medicines. Sounds good right?

But you know what? Expired drug patent also invites competition, and this time the number is more! I remember when Norvasc faced patent expiry not long ago, locally, 7 manufacturers already lined up to go in. Imagine the worldwide scenario. Not too bright ey?

2) When a drug patent expires, and the ‘ethical’ pharmaceutical company did not come up with the next product line to replace it, many jobs are at stake. I had seen this happen once when Rochepin, an antibiotics, patent expired. Many found themselves without a paycheck the following month (and months to come) including the sales representatives. Who says medical sales careers do not suffer recession?

Patent expiry is bound to happen. There is nothing anyone can do about it. What companies usually do is to use the window period of at least 10 years, and if they are lucky, 5 years extension, to really go all out to profit from a brand of medicine. After that, if there were no replacement, they better look elsewhere.

Now compare that scenario with medical devices.

Gene therapy is taking the center stage slowly but surely. Experts believe that the next generation of treatment will take a much deeper molecular level. To be able to achieve this, industry players need to conduct research.

After the research, they will need means to deliver the result to the end users. The ‘means’ I refer to is medial devices.

Right now, experts barely touch the surface of this matter. In due time, I have the fact to believe that the trend will become rampant and it will be accepted as the mainstream medical treatment (if it is not already). Big pharmaceutical companies are gearing up towards this. Last year, Roche has acquired Genetech for more than USD 46 billion to fill in the gap.

And there are more to come.

The point that I am trying to drive home is simply this – drug patent going down but medical devices are on the rise.

This is when I supposed to tell you to pursue medical device sales careers by all means. I have brought forward the argument why you want to do it and I have spilled what I observe from within the ‘playing field’, so to speak but in the end, whether this type of careers suit you to boot or otherwise, only you can tell. You might like the prospect for next year but the requirements might scare you away. You decide.